Michael 0:00
Welcome to the New to Crypto Podcast designed to guide you through the crypto landscape with pinpoint accuracy created for the new and intermediate crypto investor. Join your host Crypto Travels Michael as he takes you through the different facets of getting started and succeeding in your crypto journey. New to crypto podcast brings you new episodes daily Monday through Friday with surprise bonus episodes sometimes on the weekend. Let me ask you, are you new to crypto and don’t know where to start? Are you more experienced but have questions? Then you’re in the right place. This podcast is designed for you coming at you from the Trading Center and the Lifestyle Dezign Studio. Here’s your host Crypto Travels Michael.
Did you know that the price of the soul token from Solana was $1.86 per token one year ago? Today? It’s about $217 Each. Pretty phenomenal, the crypto industry. Today’s another one in the crypto gaming series that I’m doing and it’s all about what is Sandbox? So there’s been a lot of buzz and hype right lately about Sandbox, and some people are wondering more details and information about it. So without further ado, let’s jump into it. Sandbox is a virtual world where players can Build, own and monetize their gaming experiences in the Ethereum blockchain, using SAND the platform’s utility token. The team’s vision is to offer a deeply immersive Metaverse, in which players will create virtual worlds and games and collaborate without any central authority. They are aiming to disrupt the existing game makers like Minecraft and Roblox and some others by providing creators true ownership of their creations in the form of NFTs are non fungible tokens and rewarding their participation with the utility token conveniently named SAND that’s S-A-N-D, is the ticker symbol. In the current game market, the centralized ownership and control of user generated content limits creator rights and ownership. central control over the trading of virtual goods created by players restrict them from generating fair value for their creations.
Compounding this it can be difficult to prove creative ownership of works, especially as content is copied, altered and built upon. With the Sandbox, the team aims to overcome these limitations while accelerating blockchain adoption to grow the blockchain gaming market. They will do this by building a gaming platform where creators are able to craft play, share, collect and trade without central control, and they’re enjoying secure copyright ownership with the ability to earn cryptocurrency in the form of the SAND token. Let’s break down some of the benefits and features. One of them is called VoxEdit. And this simple to use yet powerful free 3d. Vox modeling package or voxel, allows users to create and animate 3d objects such as people, animals, foilage, and tools and export them into the Sandbox marketplace to become game assets. So let’s unpack what the marketplace is. The Sandbox web based marketplace allows users to upload, publish and sell their creations (their assets) made in the Vox edit as tokens, both ERC 721 and ERC 1155 tokens.
So let’s break down the game maker. Anyone who owns assets, either by making them in VoxEdit or purchasing them can utilize them with the third and most important ecosystem product, the game maker and the game itself. This product when launched in Game Maker mode, enables users to place in us their assets within a piece of land and ERC 721 token that they can own in the virtual world. Users can decorate their land with assets and more importantly implement interesting gameplay mechanics by assigning predefined behaviors to the assets through visual scripting nodes, turning a land from a decoration experience into a potential full game experience. So let’s unpack the NFT integration. The Sandbox virtual world uses blockchain technology and NFTs to empower the players and creators. NFTs are an emerging segment in the global game market virtual tokens for digital scarcity, security and authenticity, each NFT is distinct or unique in that it is indivisible. And it is not interchangeable from one to another, if you will. Through the use of NFTs the Sandbox users will be able to benefit from true digital ownership, from security, from trading, from cross application, interoperability, and many more benefits.
So who are the founders of Sandbox? Well, it’s three people. One of them is named Arthur Madrid, Sébastien Borget, and Marcelo Santurio. Let’s break down the SAND token for a moment. SAND is an essential part of the Sandbox platform. And the Sandbox is working on establishing key mechanics that make its intrinsically tied in the Sandbox platform and its value. SAND is an ERC 20 utility token built on the Ethereum blockchain that serves as the basis for transactions within the Sandbox. It has the following uses: access the Sandbox platform player spend SAND in order to play games, buy equipment, or customize their avatar character, and can potentially collect SAND through gameplay. Creators can spend SAND to acquire assets, lands, and through staking. Land sells drive demand for SAND to purchase lands. Artists spend SAND to upload assets to the marketplace, and buy gems for defining rarity and scarcity.
SAND is a governance token that allows holders to participate in governance decisions on the platform using a DAO structure, they can exercise voting rights on key elements, such as a foundation grant, attributions to content, and game creators, SAND owners can vote themselves or delegate voting rights to other players of their choice. There’s also staking; SAND allows for staking which allows for passive revenue on lands, you get more SAND by staking it. This is also the only way to get valuable gems and catalysts needed for asset creation. So I hope this has provided more value for you in an overview for another one in the crypto gaming series. And this one’s all about Sandbox. If you liked today’s episode, definitely like and subscribe to the podcast chime in here tomorrow for a very special episode. If you’d like to reach out to me, you can email me at show@newtocrypto.io or you go to the website and click on Contact Us. If you would like a specific episode about a different project. Go ahead and contact me reach out. I’ll meet you here tomorrow for the next episode. Until then, make it a great day.
Thanks for tuning in to New To Crypto Podcast. If you liked the episode, be sure to follow and subscribe. You can listen to every episode on all major platforms. Have an interest in being on the show or want advertising reach out at new to crypto.io. Head over to our site new to crypto.io to access the resources mentioned in each episode. Until next time, remember to navigate the crypto landscape with pinpoint accuracy.
